Personally, I’ve never had a bad military tenant though.

Now, I believe the right legal CYA move is to have one LLC for each individual property, but personally, I don't want to keep up with the bookkeeping on that! 

The magical power of a personal guarantee by an officer of the company is that it aligns the spending preferences of the company with those of the guarantor, which will just happen to align with your preferences.Truly an amazing power, in my opinion.

If I'm going to meet investors in person, it would need to be at a real estate meet up in a group setting or after lots of calls/Zooms.

Really great person to work with. 

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

I did some brrrr’s out of my geographical area a couple years back, and I’m starting to regret it.For one a person is at the mercy of the Contractor long distance.

I turned my former personal residence into a rental and have it listed as such, with occupancy coming up within the month.

Passive ownership might be acceptable.Hiring a Property Manager: To stay compliant, consider hiring a property management company to handle the day-to-day operations of the short-term rentals.

Thank you, Dave What's the situation, they want the family to stay or it's up to you on how to handle after close.